U.S. Dollar - Garner Ted Armstrong Evangelistic Association https://www.garnertedarmstrong.org Let No Man Take Your Crown Mon, 10 Jun 2024 22:19:40 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://www.garnertedarmstrong.org/wp-content/uploads/2024/05/cropped-Screen-Shot-2024-05-16-at-1.06.13-PM-32x32.png U.S. Dollar - Garner Ted Armstrong Evangelistic Association https://www.garnertedarmstrong.org 32 32 BRICS Summit Begins with Goal of Ditching U.S. Dollar https://www.garnertedarmstrong.org/brics-summit-begins-with-goal-of-ditching-u-s-dollar/?utm_source=rss&utm_medium=rss&utm_campaign=brics-summit-begins-with-goal-of-ditching-u-s-dollar Mon, 10 Jun 2024 22:19:40 +0000 https://www.garnertedarmstrong.org/?p=45951 The foreign ministers of BRICS member nations – and another 13 countries interested in collaborating with the anti-Western bloc – convened in Russia on Monday for a meeting outside of the confines of the BRICS annual summit to discuss, among other issues, ways to expand trade without the use of the U.S. dollar. “The proactive...

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]]> The foreign ministers of BRICS member nations – and another 13 countries interested in collaborating with the anti-Western bloc – convened in Russia on Monday for a meeting outside of the confines of the BRICS annual summit to discuss, among other issues, ways to expand trade without the use of the U.S. dollar.

“The proactive work is underway on fulfillment of decisions of the Johannesburg summit of the last year, specifically as regards improvement of the international monetary system and development of a platform for payment in national currencies in mutual trade,” Russian Foreign Minister Sergey Lavrov said on Monday.

BRICS held its last annual summit in August in Johannesburg, South Africa, as that nation held the presidency of the organization in 2023. Russian strongman Vladimir Putin chosenot to attend on that occasion, as South Africa is a party to the International Criminal Court (ICC), which has an outstanding warrant out for Putin on charges of war crimes in Ukraine. Russia holds this year’s presidency and will host the official summit in the city of Kazan in October.

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Source: https://www.breitbart.com/economy/2024/06/10/brics-summit-begins-goal-ditching-u-s-dollar/

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]]> China state banks seen selling US dollars to prop up yuan – sources https://www.garnertedarmstrong.org/china-state-banks-seen-selling-us-dollars-to-prop-up-yuan-sources/?utm_source=rss&utm_medium=rss&utm_campaign=china-state-banks-seen-selling-us-dollars-to-prop-up-yuan-sources Wed, 26 Jul 2023 19:43:57 +0000 https://www.garnertedarmstrong.org/?p=44280 SHANGHAI/BEIJING, July 25 (Reuters) – China’s major state-owned banks were seen selling U.S. dollars to buy yuan in both onshore and offshore spot markets in early Asian trade on Tuesday, three people with direct knowledge of the matter said, moves aimed at supporting the Chinese currency. China’s state banks usually trade on behalf of the...

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]]> SHANGHAI/BEIJING, July 25 (Reuters) – China’s major state-owned banks were seen selling U.S. dollars to buy yuan in both onshore and offshore spot markets in early Asian trade on Tuesday, three people with direct knowledge of the matter said, moves aimed at supporting the Chinese currency.

China’s state banks usually trade on behalf of the central bank in the country’s foreign exchange market, but they could also trade on their own behalf.

The dollar sales come after China’s top leaders pledged on Monday to step up policy support for the economy amid a tortuous post-COVID-19 recovery, focusing on boosting domestic demand and signalling more stimulus steps.

Policymakers also said China will keep the yuan exchange rate basically stable at reasonable and balanced levels, and vowed to invigorate the capital market and restore investor confidence.

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Source: https://www.reuters.com/markets/currencies/china-state-banks-seen-selling-us-dollars-prop-up-yuan-sources-2023-07-25/

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